KELLANOVA (KEL.DE) Stock Fundamental Analysis
FRA:KEL - Deutsche Boerse Ag - US4878361082 - Common Stock - Currency: EUR
Overall KEL gets a fundamental rating of 5 out of 10. We evaluated KEL against 58 industry peers in the Food Products industry. KEL has an excellent profitability rating, but there are concerns on its financial health. KEL does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
In the past year KEL was profitable.
In the past year KEL had a positive cash flow from operations.
KEL had positive earnings in each of the past 5 years.
Each year in the past 5 years KEL had a positive operating cash flow.
1.2 Ratios
KEL has a Return On Assets of 8.92%. This is amongst the best in the industry. KEL outperforms 91.38% of its industry peers.
KEL's Return On Equity of 35.25% is amongst the best of the industry. KEL outperforms 96.55% of its industry peers.
KEL has a Return On Invested Capital of 13.11%. This is amongst the best in the industry. KEL outperforms 96.55% of its industry peers.
The Average Return On Invested Capital over the past 3 years for KEL is significantly above the industry average of 6.77%.
The 3 year average ROIC (11.99%) for KEL is below the current ROIC(13.11%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROIC | 13.11% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
1.3 Margins
Looking at the Profit Margin, with a value of 10.92%, KEL belongs to the top of the industry, outperforming 84.48% of the companies in the same industry.
KEL's Profit Margin has improved in the last couple of years.
With an excellent Operating Margin value of 15.51%, KEL belongs to the best of the industry, outperforming 84.48% of the companies in the same industry.
In the last couple of years the Operating Margin of KEL has grown nicely.
KEL's Gross Margin of 36.59% is in line compared to the rest of the industry. KEL outperforms 48.28% of its industry peers.
KEL's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% |
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so KEL is still creating some value.
KEL has more shares outstanding than it did 1 year ago.
KEL has more shares outstanding than it did 5 years ago.
KEL has a better debt/assets ratio than last year.
2.2 Solvency
KEL has an Altman-Z score of 3.46. This indicates that KEL is financially healthy and has little risk of bankruptcy at the moment.
KEL has a better Altman-Z score (3.46) than 86.21% of its industry peers.
KEL has a debt to FCF ratio of 6.51. This is a slightly negative value and a sign of low solvency as KEL would need 6.51 years to pay back of all of its debts.
KEL has a Debt to FCF ratio (6.51) which is comparable to the rest of the industry.
A Debt/Equity ratio of 1.43 is on the high side and indicates that KEL has dependencies on debt financing.
With a Debt to Equity ratio value of 1.43, KEL is not doing good in the industry: 84.48% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Altman-Z | 3.46 |
ROIC/WACC1.63
WACC8.02%
2.3 Liquidity
A Current Ratio of 0.80 indicates that KEL may have some problems paying its short term obligations.
KEL's Current ratio of 0.80 is on the low side compared to the rest of the industry. KEL is outperformed by 86.21% of its industry peers.
KEL has a Quick Ratio of 0.80. This is a bad value and indicates that KEL is not financially healthy enough and could expect problems in meeting its short term obligations.
KEL's Quick ratio of 0.52 is on the low side compared to the rest of the industry. KEL is outperformed by 72.41% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 |
3. Growth
3.1 Past
The earnings per share for KEL have decreased by -8.11% in the last year.
KEL shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.46% yearly.
Looking at the last year, KEL shows a small growth in Revenue. The Revenue has grown by 2.96% in the last year.
KEL shows a decrease in Revenue. Measured over the last years, the Revenue has been decreasing by -1.25% yearly.
EPS 1Y (TTM)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
3.2 Future
Based on estimates for the next years, KEL will show a small growth in Earnings Per Share. The EPS will grow by 4.63% on average per year.
Based on estimates for the next years, KEL will show a small growth in Revenue. The Revenue will grow by 2.24% on average per year.
EPS Next Y0.16%
EPS Next 2Y2.19%
EPS Next 3Y2.96%
EPS Next 5Y4.63%
Revenue Next Year0.59%
Revenue Next 2Y1.38%
Revenue Next 3Y1.95%
Revenue Next 5Y2.24%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 21.35, the valuation of KEL can be described as rather expensive.
The rest of the industry has a similar Price/Earnings ratio as KEL.
When comparing the Price/Earnings ratio of KEL to the average of the S&P500 Index (27.45), we can say KEL is valued slightly cheaper.
KEL is valuated rather expensively with a Price/Forward Earnings ratio of 19.87.
65.52% of the companies in the same industry are cheaper than KEL, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.90, KEL is valued at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.35 | ||
| Fwd PE | 19.87 |
4.2 Price Multiples
KEL's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. KEL is more expensive than 68.97% of the companies in the same industry.
Based on the Price/Free Cash Flow ratio, KEL is valued a bit more expensive than 62.07% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 32.12 | ||
| EV/EBITDA | 13.9 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of KEL may justify a higher PE ratio.
PEG (NY)129.57
PEG (5Y)N/A
EPS Next 2Y2.19%
EPS Next 3Y2.96%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 2.85%, KEL has a reasonable but not impressive dividend return.
Compared to an average industry Dividend Yield of 3.26, KEL pays a bit more dividend than its industry peers.
KEL's Dividend Yield is comparable with the S&P500 average which is at 2.38.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.85% |
5.2 History
The dividend of KEL has a limited annual growth rate of 1.51%.
Dividend Growth(5Y)1.51%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
KEL pays out 56.67% of its income as dividend. This is a bit on the high side, but may be sustainable.
The dividend of KEL is growing, but earnings are growing more, so the dividend growth is sustainable.
DP56.67%
EPS Next 2Y2.19%
EPS Next 3Y2.96%
FRA:KEL (7/2/2025, 7:00:00 PM)
67.9
+0.08 (+0.12%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners82.54%
Inst Owner ChangeN/A
Ins Owners0.44%
Ins Owner ChangeN/A
Market Cap23.56B
Analysts54.55
Price Target74.19 (9.26%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.85% |
Yearly Dividend1.92
Dividend Growth(5Y)1.51%
DP56.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-1.95%
Min EPS beat(2)-12.53%
Max EPS beat(2)8.62%
EPS beat(4)3
Avg EPS beat(4)2.8%
Min EPS beat(4)-12.53%
Max EPS beat(4)9.89%
EPS beat(8)7
Avg EPS beat(8)7.81%
EPS beat(12)11
Avg EPS beat(12)7.62%
EPS beat(16)15
Avg EPS beat(16)8.34%
Revenue beat(2)0
Avg Revenue beat(2)-3.1%
Min Revenue beat(2)-4.93%
Max Revenue beat(2)-1.26%
Revenue beat(4)1
Avg Revenue beat(4)-1.62%
Min Revenue beat(4)-4.93%
Max Revenue beat(4)0.37%
Revenue beat(8)3
Avg Revenue beat(8)-0.28%
Revenue beat(12)7
Avg Revenue beat(12)0.61%
Revenue beat(16)10
Avg Revenue beat(16)0.52%
PT rev (1m)-0.23%
PT rev (3m)-3.47%
EPS NQ rev (1m)-0.41%
EPS NQ rev (3m)-3.06%
EPS NY rev (1m)0.35%
EPS NY rev (3m)-3.35%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.64%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)-0.75%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 21.35 | ||
| Fwd PE | 19.87 | ||
| P/S | 2.19 | ||
| P/FCF | 32.12 | ||
| P/OCF | 18.33 | ||
| P/B | 7.08 | ||
| P/tB | N/A | ||
| EV/EBITDA | 13.9 |
EPS(TTM)3.18
EY4.68%
EPS(NY)3.42
Fwd EY5.03%
FCF(TTM)2.11
FCFY3.11%
OCF(TTM)3.7
OCFY5.45%
SpS30.94
BVpS9.59
TBVpS-7.05
PEG (NY)129.57
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 8.92% | ||
| ROE | 35.25% | ||
| ROCE | 17.6% | ||
| ROIC | 13.11% | ||
| ROICexc | 13.49% | ||
| ROICexgc | 33.43% | ||
| OM | 15.51% | ||
| PM (TTM) | 10.92% | ||
| GM | 36.59% | ||
| FCFM | 6.83% |
ROA(3y)6.62%
ROA(5y)7%
ROE(3y)29.96%
ROE(5y)34.02%
ROIC(3y)11.99%
ROIC(5y)11.58%
ROICexc(3y)12.48%
ROICexc(5y)11.99%
ROICexgc(3y)36.74%
ROICexgc(5y)35.13%
ROCE(3y)15.6%
ROCE(5y)14.99%
ROICexcg growth 3Y9.44%
ROICexcg growth 5Y7.97%
ROICexc growth 3Y8.64%
ROICexc growth 5Y9.53%
OM growth 3Y5.23%
OM growth 5Y6.89%
PM growth 3Y0.13%
PM growth 5Y8.3%
GM growth 3Y3.3%
GM growth 5Y2.28%
F-Score7
Asset Turnover0.82
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.43 | ||
| Debt/FCF | 6.51 | ||
| Debt/EBITDA | 2.41 | ||
| Cap/Depr | 174% | ||
| Cap/Sales | 5.14% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 64.84% | ||
| Profit Quality | 62.54% | ||
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.52 | ||
| Altman-Z | 3.46 |
F-Score7
WACC8.02%
ROIC/WACC1.63
Cap/Depr(3y)144.93%
Cap/Depr(5y)131.73%
Cap/Sales(3y)4.42%
Cap/Sales(5y)4.17%
Profit Quality(3y)102.41%
Profit Quality(5y)100.55%
High Growth Momentum
Growth
EPS 1Y (TTM)-8.11%
EPS 3Y-2.63%
EPS 5Y-0.46%
EPS Q2Q%-10.89%
EPS Next Y0.16%
EPS Next 2Y2.19%
EPS Next 3Y2.96%
EPS Next 5Y4.63%
Revenue 1Y (TTM)2.96%
Revenue growth 3Y-3.49%
Revenue growth 5Y-1.25%
Sales Q2Q%-3.66%
Revenue Next Year0.59%
Revenue Next 2Y1.38%
Revenue Next 3Y1.95%
Revenue Next 5Y2.24%
EBIT growth 1Y23.29%
EBIT growth 3Y1.56%
EBIT growth 5Y5.55%
EBIT Next Year19.54%
EBIT Next 3Y9.19%
EBIT Next 5Y7.16%
FCF growth 1Y-17.57%
FCF growth 3Y-0.47%
FCF growth 5Y13.92%
OCF growth 1Y-5.5%
OCF growth 3Y1.14%
OCF growth 5Y8.4%